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Satellos Bioscience Inc (MSCLF) is a biotechnology innovator advancing novel therapies through rigorous clinical research. This page provides investors and industry observers with timely updates on the company’s scientific milestones, financial disclosures, and strategic partnerships.
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Satellos Bioscience (TSX: MSCL, OTCQB: MSCLF) announced that CEO Frank Gleeson will be participating in a panel discussion at the Parent Project Muscular Dystrophy (PPMD) 30th Annual Conference in Orlando, Florida, from June 27-29, 2024. This event underscores the company's ongoing commitment to developing innovative treatments for Duchenne muscular dystrophy. Gleeson highlighted Satellos' progress, supported by a programmatic investment from PPMD in 2021, towards creating an oral drug candidate aimed at improving treatment options for Duchenne patients. The company plans to submit a regulatory package in July 2024 to begin a Phase 1 clinical trial of SAT-3247, evaluating its safety and pharmacokinetics in healthy volunteers in Q3 2024.
Satellos Bioscience has announced the creation of a Clinical Advisory Board (CAB) to aid in the development of SAT-3247, an oral small molecule drug for Duchenne Muscular Dystrophy (DMD). The company, listed on TSX as MSCL and OTCQB as MSCLF, expects to start first-in-human clinical trials mid-year for SAT-3247. The CAB comprises distinguished experts like Jordan Dubow, Ronald Cohn, Richard Finkel, Nicholas Johnson, Hanns Lochmüller, Francesco Muntoni, and Perry Shieh. This development marks a significant step for Satellos in becoming a clinical-stage drug development company focused on muscle diseases.
Satellos Bioscience, a biotech company developing small molecule therapeutics for muscle diseases, announced the results of its Annual and Special Meeting of Shareholders held on May 14, 2024. All nominees listed in the Circular dated April 10, 2024, were elected as directors with over 99% of votes cast. Shareholders approved a potential reverse stock split in the range of 1-for-5 to 1-for-20, re-appointment of MNP LLP as auditors, a new Equity Incentive Plan, an advanced notice bylaw, and amendments to existing bylaws. 54.43% of common shares were represented at the meeting. The detailed voting results are available on Sedar+.
Satellos Bioscience announced its Q1 2024 financial and operational results.
Key highlights include preclinical advancements and GMP manufacturing for SAT-3247, with Phase 1 clinical trials on track to start mid-2024.
The company reported a cash balance of $33.2 million as of March 31, 2024, down from $39.6 million at the end of 2023.
Net loss for Q1 2024 was $6.9 million, significantly higher than the $1.7 million loss in Q1 2023, due to increased R&D and G&A expenses.
Satellos also received Orphan Drug status from the FDA for SAT-3247 and plans to present at the PPMD conference in June 2024.
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